Unfortunately I am unable to travel far from Thames Ditton. I would like to know the reason why all Thames Ditton lawyers are not on all bank panels?
A decade ago most mortgage companies demonstrated an approach to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. As a result, lenders have since soughtmore information from law firms about their processes and the staff who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the mortgage companies insisted on.
My husband and I are refinancing our apartment in Thames Ditton with Nationwide. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Nationwide conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Nationwide. This is solely used to protect Nationwide if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Nationwide had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is there a reason why leasehold purchase conveyancing in Thames Ditton is more expensive?
Thames Ditton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am looking to buy a property and need a conveyancing solicitor in Thames Ditton who is on the Barclays Direct approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Barclays Direct in certain locations such as Thames Ditton. We dont recommend any particular firm.
I am looking for a flat up to £235,500 and identified one close by in Thames Ditton I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Thames Ditton in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Am I best advised to use a Thames Ditton conveyancing practitioner based in the location that I am purchasing? An old friend can execute the legal formalities but they are based 200kilometers drive away.
The primary upside of using a local Thames Ditton conveyancing practice is that you can visit the firm to sign documents, hand in your identification documents and pester them where appropriate. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and they were content that must outweigh using an unknown Thames Ditton conveyancing solicitor solely due to them being based in the area.